Netflix pays US$5bil for ‘Raw’ in bet on live events

Streaming giant: The Netflix logo is seen on a TV remote in Los Angeles. The company handily beat projected subscriber estimates to bring its total number to 260 million. — AFP

LOS ANGELES: Netflix on Tuesday blew past Wall Street subscriber estimates in the fourth quarter, driven by a strong slate of shows that included the final season of the long-running royal drama The Crown and David Fincher’s original film, The Killer.

The company reported it added 13.1 million subscribers in the December quarter, its largest fourth-quarter subscriber growth ever, handily exceeding projected gains of 8.97 million. That brings the total number of subscribers to 260 million.